SME Forum: Retail Payments

03 December 2020 Zoom

OBIE’s SME Forum on Thursday 3rd December at 12pm focused on the increasing use of open banking payments in the UK’s small business economy – driven by an exciting mix of factors:

  • The economic impact of Covid 19 and businesses’ move to embrace eCommerce
  • The maturity of open banking payments as a viable alternative to card payments for the first time
  • Continuous growth in open banking payment initiation API calls, up 300% in the last six months
  • Recognition of PISP propositions in the recently published Payment Landscape Review from HM Treasury

And the results of our recent survey, where over 60% of small businesses surveyed expressed interest in exploring new, non-card payment options – the second most popular potential open banking application.

The OBIE assembled a panel of experts to share their thoughts on why open banking payments are a good thing for UK businesses, and how they could benefit from increased competition in the payments market.

  • Andrew Cregan, Finance Policy Adviser, British Retail Consortium
  • David Birch, Director of Innovation & Global Ambassador, Consult Hyperion
  • Jack Wilson, Head of Policy & Regulatory Affairs, TrueLayer
  • Jonathan Hughes Co-Founder & CEO, Pollinate Horizons

Moderator: Mark Chidley, Independent SME Representative to the OBIE

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